SHELTON – The energy as a service provider Budderfly has secured an additional $100 million in debt financing from Nuveen Energy Infrastructure Credit (Nuveen EIC) to accelerate the deployment of energy solutions tailored for energy-intensive buildings.
This latest financing brings Budderfly’s total capital raised to more than $1 billion.
Budderfly will leverage this financing to continue providing turnkey energy solutions across a wide range of commercial properties, converting aging infrastructure into high-performing, cost-saving assets.
“Nuveen’s support has been instrumental to our growth, helping us quickly deploy solutions for our customers and scale year over year,” said Al Subbloie, Budderfly CEO. “This milestone – surpassing $1 billion in capital is more than just an achievement for our company – it’s clear validation of the importance of energy efficiency in the built environment. With support from our investors, we look forward to expanding our impact by helping more businesses become energy efficient.”
Nuveen EIC head Don Dimitrievich said his company was impressed with Budderfly’s ability to deliver decarbonization.
“Our additional $100 million debt facility reflects our confidence in Budderfly’s ability to continue to scale rapidly, while delivering both strong financial performance and measurable outcomes,”Dimitrievich said. “Budderfly’s energy management platform is one of the most compelling models we’ve seen for delivering real, scalable decarbonization in the built environment. Its ability to generate predictable cash flows, deliver energy savings for Budderfly’s clients, and serve a largely untapped market segment makes Budderfly a high-impact, high-return investment for Nuveen Energy Infrastructure Credit.”
Budderfly’s behind-the-meter approach integrates advanced HVACs, LED lighting, smart controls, and water-saving technologies. Through 10-15-year service agreements and by investing its own capital, Budderfly delivers customers lower operating costs and helps them achieve progress toward their sustainability goals.
To date, Budderfly has helped customers avoid more than 200,000 metric tons of carbon emissions. Budderfly ranked on the Inc. 5000 America’s Fastest-Growing Private Companies list from 2021 to 2024 and the Deloitte Technology Fast 500 list from 2023 to 2024.
